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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Nov 13, 2018

Jake Brukhman of CoinFund and Tushar Jain of Multicoin Capital discuss a new trend among crypto funds: generalized mining, also called mining 2.0, in which investors participate in the networks in order to seed activity on them. For instance, an investor might offer disk space on a file storage network or provide capital on a decentralized lending network. They explain why it makes more sense to do this in the early days of a network than when it's matured, whether this will lead away from a peer-to-peer vision for crypto toward more professionalization and how this affects the basic premise of the fat protocols thesis. We also discuss how this impacts how crypto funds hire, do their accounting and reporting and structure their LP agreements.

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Episode links:

Jake Brukhman:


Tushar Jain:

Multicoin Capital:

Jake's post on crypto borrowing:

Tushar's post on generalized mining:

Jake on LivePeer as a case study:

Unchained episode with MakerDAO:

Unconfirmed episode with Rune Christensen of MakerDAO:

Initial witness offerings, by Jake's partner Alexsandr Bulkin:

Jake's post on fat protocols not being an investment thesis:

Unchained interview with Joel Monegro, the author of the fat protocols thesis:

Videos that Jake mentions at the end of the show:

Generalized Mining, An Introduction & Primer by Jake Brukhman, CEO of CoinFund:

Panel #1: Supply Side Services | Generalized Mining and The Third-Party Economy:

Panel # 2: New Role of Crypto Investors | Generalized Mining and The Third-Party Economy:

Panel #3: Staking Economic Design |  Generalized Mining and The Third-Party Economy: